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Africa FinTech Sector Continues Upward Trend

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After a difficult 2020 during which global investment plummeted due to the pandemic, 2021 emerged as a very successful year for both public and private markets, with various sectors recording record growth in funding.

“From a FinTech perspective, there was over $130 billion of primary funding deployed across the industry. That accounted for about 20% of global funding, [making] FinTech one of the largest sectors and largest beneficiaries of the growth in the total capital deployment,” Abhimanyu Toor, managing director at London-based FinTech advisory firm Royal Park Partners, told PYMNTS in a recent interview.

Not only did FinTech-related funds nearly double, but the deal count increased by 30% to 50% driven largely by so-called “mega rounds” — capital of $100 million or more raised by large, privately held FinTech unicorns.

There was also a clear increase in appetite for emerging market assets last year, Toor said, as investors turned to less competitive, less crowded markets for deals. “Western markets have become extremely competitive, valuations are skyrocketing,…

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